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Wednesday, April 20, 2011

GDP - good and bad

here's one from the internet:

Two economists were walking outdoors when they passed a heap of shit. "I'll give you 20 000 dollars if you eat that shit," one of the economists said. The other economist ate the shit and got 20 000 dollars.

After a while, they came to another heap of shit, and the economist who had eaten the first heap of shit said that he would give the other economist 20 000 dollars if he ate the shit, and so he did.

Afterwards, one of the economists admitted that it did not feel right - they had eaten a lot of shit without earning a cent. The other economist replied that they had at least achieved something - the GDP had increased with 40 000 dollars.

like cholesterol - gdp growth has good gdp growth and bad gdp growth..... good gdp growth benefits the ordinary people to raise their standard of living. bad gdp growth, is just shitty.

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